Pfizer and BioNTech announced that their vaccine has shown a 90% efficacy rate in its phase 3 essay. The news helped fuel a significant rally in global stock markets. The S&P 500 rose 1.2%, after hitting a record high earlier in the session. Despite Monday’s significant rebound, UBS economists continue to believe that stocks will […]
Tag: Banks
GBP / USD faces strong resistance at 1.3380 / 1.3420
It is expected that further rise in GBP / USD hits a relevant hurdle at 1.3380 ahead of 1.3420, have noted the currency strategists of UOB Group. Key Comments: 24 hour view: “Our expectation that GBP / USD would trade between 1.3120 and 1.3220 was incorrect, as it passed 1.3220 and reached a high of […]
EUR / USD maintains the consolidation movement
UOB Group’s currency strategists expect the EUR / USD moves within the 1.1720-1.1880 range in the coming weeks. Key Comments: 24 hour view: “We highlighted yesterday that ‘the upward pressure has more or less dissipated’ and we expected the EUR / USD to ‘trade sideways within a 1.1790 / 1.1880 range.’ Subsequently, the EUR / […]
USA: Labor market still under severe stress, signs of improvement
Job offers improved modestly through September, but remain depressed, they noted Wells Fargo analysts. They point out that the most recent data suggest that labor demand remains weak and suggest that the recovery in employment will be slow in the short term. Key statements: “Job openings rose to 6.44 million in September from a downwardly […]
USD / JPY would confirm abrupt reversal above 105.75 / 92 – Credit Suisse
USD / JPY reversed dramatically higher, denying last week’s bearish “outside week”, but it still needs to leave 105.75 / 92 behind to suggest a base has been established, the Credit Suisse team of analysts estimates. Key statements: “USD / JPY has seen an abrupt and aggressive reversal from its bearish ‘week out’ to climb […]
GBP/USD apunta a 1.3200 – UOB
An extra rise is expected in the GBP/USD on a break above the mark 1.3200, noted FX strategists from the UOB Group. 24 hour perspective: “We said yesterday that the British pound ‘could rise above 1.3200, but it remains to be seen whether it can sustain a foothold above this level.’ We were right as […]
Greater strength could be losing traction – UOB
The currency strategists of UOB Group they suggested that the possibility of further gains in EUR / USD could be losing momentum in the near term. 24 hour perspective: “We highlighted yesterday that the EUR overbought advance had room to break above 1.1915, but the next resistance at 1.1960 was probably out of reach. While […]
USD / RUB: A failure to break above the 76.02 level would confirm a top formation, turning the bias to bearish
Commerzbank analysts they point out that the USD/RUB it had probably peaked at 80.94. They explained that a daily close below 76.02 (October low) would confirm a top formation. Key statements: “The USD / RUB advance has taken it above the late September high of 79.99 to the current November high of 80.94 before rapidly […]
AUD / USD forming a clear double bottom within a triangle
Citibank analysts forecast AUD / USD in 0.73 in a period of 0 to 3 months and in 0.74 in a horizon of 6 to 12 months. They note that fundamental supports for the USD have eroded since the start of the COVID crisis and are unlikely to reverse in the medium term. Key statements […]
EUR / USD near resistance 1.1908 / 17, above 1.1966 expected – Commerzbank
At the time of writing, the EUR / USD is gaining 0.10% on the day at 1.1890. The Bulls need a decisive break above July high around 1.1910 to extend the upside toward the mid-August peak at 1.1966, reports Axel Rudolph, FICC Senior Technical Analyst at Commerzbank. “The EUR / USD has passed the October […]
